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Texas Insurance Code - Section 442.203. Unliquidated Or Undetermined Claim Or Demand

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 442.203. Unliquidated Or Undetermined Claim Or Demand

§ 442.203. UNLIQUIDATED OR UNDETERMINED CLAIM OR 
DEMAND.  (a) A claim based on an unliquidated or undetermined 
demand must be presented within the time limit provided by this 
chapter for presenting a claim.  The claim may not share in any 
distribution to claimants until the claim is definitely liquidated, 
determined, and allowed.  After the claim is liquidated, 
determined, and allowed, the claim shares ratably with the claims 
of the same class in all subsequent distributions.
	(b)  For the purposes of this chapter, a claim or demand is 
considered unliquidated or undetermined if:
		(1)  a right of action on the claim or demand accrued as 
of the date:       
			(A)  the delinquency proceeding was commenced;  or                           
			(B)  the insurance policy was canceled, if 
applicable;  and                
		(2)  the liability on the claim or demand has not been 
determined or the amount of the claim or demand has not been 
liquidated.
	(c)  If the receiver is otherwise able to close the 
receivership proceeding, the proposed closing is a sufficient 
ground to reject any remaining unliquidated or undetermined claim 
or demand.  The receiver shall notify the claimant of the receiver's 
intention to close the proceeding and shall allow liquidation or 
determination of those claims during the 60 days after the date of 
the notice.  If a remaining claim is not liquidated or determined on 
or before the 60th day after the date of the notice, the receiver 
may reject the claim.

Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.           

Last modified: August 10, 2007